Bond Market Update

Defending Slim Gains

• U.S. Treasuries have dipped from their morning highs, returning to their opening levels. Treasuries have spent some time on both sides of their flat lines today, but the market is setting up for a quiet finish to the week that now resembles yesterday's affair when Treasuries spent the bulk of the day near their starting levels. Labor Day closures in most overseas markets have contributed to today's limited movement, which leaves the market on course for a lower finish to the week. The 10-yr yield is currently up seven basis points from last week's settlement while the 2-yr yield is up ten basis points for the week.
• Yield Check:
  • 2-yr: UNCH at 3.88%
  • 3-yr: -1 bp to 3.90%
  • 5-yr: -1 bp to 4.01%
  • 10-yr: -1 bp to 4.38%
  • 30-yr: -2 bps to 4.97%